ST Germain D J Co. Inc. decreased its holdings in Automatic Data Processing (NASDAQ:ADP) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,497 shares of the business services provider’s stock after selling 280 shares during the period. ST Germain D J Co. Inc.’s holdings in Automatic Data Processing were worth $1,856,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of ADP. Krane Funds Advisors LLC bought a new position in Automatic Data Processing in the second quarter worth approximately $25,000. Mackey Komara & Dankovich LLC raised its stake in Automatic Data Processing by 428.8% in the second quarter. Mackey Komara & Dankovich LLC now owns 1,084 shares of the business services provider’s stock worth $35,000 after buying an additional 879 shares in the last quarter. Virtus ETF Advisers LLC bought a new position in Automatic Data Processing in the second quarter worth approximately $41,000. MRA Associates USA LLC bought a new position in Automatic Data Processing in the second quarter worth approximately $42,000. Finally, Gradient Investments LLC raised its stake in Automatic Data Processing by 126.2% in the third quarter. Gradient Investments LLC now owns 276 shares of the business services provider’s stock worth $45,000 after buying an additional 154 shares in the last quarter. 80.38% of the stock is owned by institutional investors.
Shares of Automatic Data Processing stock traded up $0.13 during mid-day trading on Thursday, hitting $164.29. The stock had a trading volume of 408,909 shares, compared to its average volume of 1,915,208. The firm has a 50-day moving average of $162.96 and a two-hundred day moving average of $163.68. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $174.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The firm has a market cap of $70.46 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.01. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the company posted $0.99 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts expect that Automatic Data Processing will post 6.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.79 dividend. The ex-dividend date was Thursday, September 12th. This represents a $3.16 annualized dividend and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio (DPR) is 57.98%.
A number of brokerages recently commented on ADP. Robert W. Baird boosted their price objective on shares of Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley upped their price target on Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Jefferies Financial Group upped their price target on Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Barclays upped their price target on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, ValuEngine downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Automatic Data Processing presently has an average rating of “Hold” and an average price target of $175.67.
In related news, CEO Carlos A. Rodriguez sold 49,392 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the completion of the transaction, the chief executive officer now owns 132,338 shares of the company’s stock, valued at approximately $21,399,054.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brock Albinson sold 6,683 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the transaction, the vice president now directly owns 6,302 shares of the company’s stock, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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